Prudential Financial Inc. (PRU) to Issue Quarterly Dividend of $0.70 on December 15th

Prudential Financial Inc. (NYSE:PRU) declared a quarterly dividend on Tuesday, November 8th. Shareholders of record on Tuesday, November 22nd will be given a dividend of 0.70 per share on Thursday, December 15th. This represents a $2.80 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date is Friday, November 18th.

Prudential Financial (NYSE:PRU) opened at 97.93 on Friday. Prudential Financial has a 1-year low of $57.19 and a 1-year high of $98.34. The firm’s 50-day moving average is $84.89 and its 200-day moving average is $78.31. The firm has a market capitalization of $42.11 billion, a price-to-earnings ratio of 9.23 and a beta of 1.68.

Prudential Financial (NYSE:PRU) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported $2.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.49 by $0.17. Prudential Financial had a net margin of 8.92% and a return on equity of 7.73%. During the same period in the prior year, the firm earned $2.40 EPS. On average, equities analysts anticipate that Prudential Financial will post $8.99 EPS for the current year.

A number of analysts have recently issued reports on PRU shares. Goldman Sachs Group Inc. upgraded shares of Prudential Financial from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $80.00 to $93.00 in a report on Friday, September 23rd. Wells Fargo & Co. started coverage on shares of Prudential Financial in a report on Friday, September 23rd. They issued a “market perform” rating on the stock. FBR & Co downgraded shares of Prudential Financial from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a report on Tuesday, October 18th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG started coverage on shares of Prudential Financial in a report on Friday, October 7th. They issued a “neutral” rating and a $89.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Prudential Financial has an average rating of “Buy” and an average target price of $89.13.

In related news, insider Charles F. Lowrey sold 50,322 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $85.00, for a total value of $4,277,370.00. Following the completion of the transaction, the insider now owns 92,458 shares of the company’s stock, valued at $7,858,930. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott Sleyster sold 9,379 shares of the business’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $85.06, for a total value of $797,777.74. Following the completion of the transaction, the insider now directly owns 34,185 shares of the company’s stock, valued at approximately $2,907,776.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Martingale Asset Management L P increased its position in Prudential Financial by 5.8% in the second quarter. Martingale Asset Management L P now owns 94,156 shares of the company’s stock worth $6,718,000 after buying an additional 5,202 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Prudential Financial by 3.4% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,012 shares of the company’s stock valued at $3,211,000 after buying an additional 1,490 shares during the last quarter. Lebenthal Wealth Advisors LLC acquired a new position in shares of Prudential Financial during the second quarter valued at approximately $239,000. American International Group Inc. increased its position in shares of Prudential Financial by 6.2% in the second quarter. American International Group Inc. now owns 230,769 shares of the company’s stock valued at $16,463,000 after buying an additional 13,401 shares during the last quarter. Finally, General Electric Co. increased its position in shares of Prudential Financial by 6.1% in the second quarter. General Electric Co. now owns 45,329 shares of the company’s stock valued at $3,234,000 after buying an additional 2,602 shares during the last quarter. 60.43% of the stock is owned by institutional investors and hedge funds.

Prudential Financial Company Profile

Prudential Financial, Inc is a financial services company. The Company, through its subsidiaries and affiliates, provides a range of financial products and services, including life insurance, annuities and investment management. The Company’s divisions include U.S. Retirement Solutions and Investment Management Division; U.S.